I feel like Epic has worked with some PR firm to try and push as many stories about their beef with Apple as they can. But I feel like Epic's CEO just doesn't 'get' Apple. Like through all of Samsung's weird anti-Apple junk, Apple continued to increase in value and continued to get more and more users, eventually eating up even more market share.
Like there's only so much money to be made in 'publicly hating Apple' and most of those users already hate Epic, because they're straight up in love with Steam. Most people don't love having a thousand different accounts for services, they forget passwords, they get frustrated and just stop using them (one of the reasons we have Keychain.) But Epic's argument is essentially Apple shouldn't be able to run a big software store that collects commissions for connecting apps with users, because Epic would prefer to be the ones running that big store.
They may publicly be saying that they want to charge users less (Ha!) but they run their own store on Windows, and they've probably decided that it's a lot cheaper to try and sue Apple and Google, than it is to build a smart phone platform that they can run their own store on. (And fun fact, they could already do this on Android!)
I can't say for sure what the courts will do, mostly because the courts often decide to do things that make no sense, particularly when Apple is involved. (Remember the judge who decided that Apple competing with Amazon in eBooks was somehow anti-competitive despite the fact that Apple had way less market share!? And then installing a lawyer to oversee them, who kept over charging Apple for things he wasn't even doing, and trying to get into meetings that had nothing to do with eBook sales.)
Ultimately I think Apple could probably gain some good will while also still giving Epic a middle finger, by saying that they'd slash App Store commissions to 10% for developers making less than ____ a month. Insert whatever number here that allows Apple to lose a bit of money but make small devs very happy, while still not giving Epic, Tencent, and King what they want.